Wealth Management Partners LLC Boosts Stake in Cloudflare, Inc. (NYSE:NET)

Wealth Management Partners LLC lifted its position in shares of Cloudflare, Inc. (NYSE:NET) by 3.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,549 shares of the company’s stock after purchasing an additional 114 shares during the quarter. Wealth Management Partners LLC’s holdings in Cloudflare were worth $382,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its position in shares of Cloudflare by 2.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 195,791 shares of the company’s stock worth $16,217,000 after buying an additional 4,682 shares during the period. Dimensional Fund Advisors LP boosted its stake in Cloudflare by 0.4% during the second quarter. Dimensional Fund Advisors LP now owns 326,853 shares of the company’s stock worth $27,070,000 after acquiring an additional 1,460 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Cloudflare in the second quarter worth about $7,463,000. Amalgamated Bank increased its stake in shares of Cloudflare by 3.6% during the second quarter. Amalgamated Bank now owns 20,316 shares of the company’s stock valued at $1,683,000 after purchasing an additional 714 shares in the last quarter. Finally, Blair William & Co. IL lifted its holdings in shares of Cloudflare by 2.3% during the second quarter. Blair William & Co. IL now owns 32,865 shares of the company’s stock valued at $2,722,000 after purchasing an additional 752 shares during the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cloudflare

In related news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $113.73, for a total transaction of $5,957,632.32. Following the sale, the chief executive officer now owns 10,762 shares in the company, valued at approximately $1,223,962.26. This represents a 82.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction on Monday, November 4th. The stock was sold at an average price of $86.79, for a total transaction of $1,301,850.00. Following the transaction, the chief financial officer now directly owns 281,403 shares of the company’s stock, valued at $24,422,966.37. The trade was a 5.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 524,852 shares of company stock valued at $55,386,256 over the last 90 days. 12.83% of the stock is owned by corporate insiders.

Cloudflare Stock Performance

Shares of NET stock opened at $117.13 on Monday. The company’s fifty day simple moving average is $107.72 and its two-hundred day simple moving average is $91.54. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $121.02.

Cloudflare (NYSE:NET) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, meeting the consensus estimate of ($0.03). The business had revenue of $430.08 million during the quarter, compared to analysts’ expectations of $423.65 million. Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. As a group, research analysts predict that Cloudflare, Inc. will post -0.1 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on NET shares. BNP Paribas initiated coverage on Cloudflare in a research report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price objective for the company. Cantor Fitzgerald assumed coverage on shares of Cloudflare in a report on Friday. They set a “neutral” rating and a $111.00 price target on the stock. Morgan Stanley raised shares of Cloudflare from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $92.00 to $130.00 in a research report on Monday, December 2nd. UBS Group upped their price objective on Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Scotiabank lifted their price target on shares of Cloudflare from $85.00 to $87.00 and gave the stock a “sector perform” rating in a research note on Friday, November 8th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $107.00.

Cloudflare Company Profile

Cloudflare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company provides an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and IoT devices; and website and application security products comprising web application firewall, bot management, distributed denial of service, API gateways, SSL/TLS encryption, script management, security center, and rate limiting products.